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Brandon's Release of Oil from SPR has lowered gas prices, but...

Posted on 4/7/22 at 7:40 pm
Posted by blueridgeTiger
Granbury, TX
Member since Jun 2004
20220 posts
Posted on 4/7/22 at 7:40 pm
Never in the history of this Republic has a president made such a blatant political move which jeopardizes national security to such extent. LGB!
Posted by SDVTiger
Cabo San Lucas
Member since Nov 2011
73271 posts
Posted on 4/7/22 at 7:41 pm to
Gas has gone up in Cali so i dont believe this
Posted by Jjdoc
Cali
Member since Mar 2016
53436 posts
Posted on 4/7/22 at 7:44 pm to
Not sure where you are but not here
Posted by Roberteaux
mandeville
Member since Sep 2009
5809 posts
Posted on 4/7/22 at 7:44 pm to
How much have they lowered?? I haven’t filled up in almost 2 weeks and I’m too mortified to look at the prices as I drive past a station, so I honestly don’t know…
Posted by aubie101
Russia
Member since Nov 2010
3090 posts
Posted on 4/7/22 at 7:44 pm to
I just spent 5.59, down 3 cents. Thanks Biden.
Posted by Rebel
Graceland
Member since Jan 2005
131252 posts
Posted on 4/7/22 at 7:46 pm to
Between 3.85 and 4 bucks in western tennessee.
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11075 posts
Posted on 4/7/22 at 7:53 pm to
Wait until the effects of the west decoupling from the east flow through consumer prices for the next several years
Posted by sledgehammer
SWLA
Member since Oct 2020
3322 posts
Posted on 4/7/22 at 7:54 pm to
$3.68 in Lake Charles
Posted by llfshoals
Member since Nov 2010
15350 posts
Posted on 4/7/22 at 7:55 pm to
Down 40 cents a gallon on regular in Tuscaloosa over the last month
Posted by blueridgeTiger
Granbury, TX
Member since Jun 2004
20220 posts
Posted on 4/7/22 at 8:12 pm to
$3.57 today west of Fort Worth. Had been over $4 last month.
Posted by LSURoss
SWLAish
Member since Dec 2007
15264 posts
Posted on 4/7/22 at 8:20 pm to
$3.71 in shreveport. "the new normal"
Posted by LNCHBOX
70448
Member since Jun 2009
84060 posts
Posted on 4/7/22 at 8:24 pm to
Gas has dropped anywhere from 8¢ to 10¢ in my neck of the woods. My vote costs more than that, potato.
Posted by michael corleone
baton rouge
Member since Jun 2005
5805 posts
Posted on 4/7/22 at 8:25 pm to
The strategic reserve only holds enough oil to “run” America for 15 days or so. He released oil we paid for at 40$ a barrel to replace at 100$ plus a barrel. Why not just pump domestic oil at 100$ a barrel, which will create jobs and lower prices for slinger period of time.
Posted by CitizenK
BR
Member since Aug 2019
9353 posts
Posted on 4/7/22 at 8:29 pm to
Did it? Oil traders panicked over a month ago with sanctions on Russia. Flow of Russian crude has not slowed
Posted by Penrod
Member since Jan 2011
39103 posts
Posted on 4/7/22 at 8:30 pm to
quote:

Never in the history of this Republic has a president made such a blatant political move which jeopardizes national security to such extent.

It does not jeopardize national security. The US could pivot on a dime and produce far more oil than we can refine and use. This was an obvious great move that Trump would have been the first to do; it mitigates a painful phenomenon, and we get to sell high and buy low.
Posted by Strannix
District 11
Member since Dec 2012
48842 posts
Posted on 4/7/22 at 8:33 pm to
You're the dumbest MF here
Posted by CGSC Lobotomy
Member since Sep 2011
79978 posts
Posted on 4/7/22 at 8:34 pm to
Went from $4.79 to $4.59 here and hasn't moved since. Was $3.49 in late-February.
Posted by Clyde Tipton
Planet Earth
Member since Dec 2007
38725 posts
Posted on 4/7/22 at 8:40 pm to
quote:

$3.71 in shreveport


$3.60 at SAMS on Youree this morning.

It was as high as $4.05 there that I saw about a month ago.
Posted by Godfather1
What WAS St George, Louisiana
Member since Oct 2006
79615 posts
Posted on 4/7/22 at 8:41 pm to
quote:

The US could pivot on a dime and produce far more oil than we can refine and use.


Then instead of using up our strategic reserve, why aren’t we doing it?

I swear, you consistently have some of the worst takes on every board you frequent.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
51475 posts
Posted on 4/7/22 at 8:43 pm to
quote:

How much have they lowered?? I haven’t filled up in almost 2 weeks and I’m too mortified to look at the prices as I drive past a station, so I honestly don’t know…


It's been around $3.90-something here in BR.

There are a couple of problems...


1. We will be switching over to summer blends soon and they are more expensive to make (as much as .15 extra per gallon).

2. We will be getting into the peak driving season (Spring/Summer) within the next month or two.


Right now Biden is releasing ~1M barrels per day for the next ~180 days. The higher demand and higher prices for summer driving are going to push gasoline back to where it was pre-Reserve, probably higher. With his dumb arse he'll probably push to increase the amount taken from the reserve.

The problem there is that's a finite amount, it will need to be replenished eventually and he has no plans to actually fix the issue. This whole event is an attempt to just "wait out" the price increase and hope the market rebalances before he has to drain the reserve completely.


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